Mobile World Congress Day 3: Connected Life Becomes Reality
Another update here from Mobile World Congress in Barcelona. This time we’d like to discuss a little about the trend toward using the next generation of mobile technology—LTE or Long Term Evolution—to support a growing number of connected devices across multiple different industries—not just the traditional mobile operator sector.
Across from our pavilion was the Connected Life booth that showcased how in the future, everyone and everything will benefit from a wireless connection. With more than 6 billion connections globally—and this is expected to grow to 24 billion in 2020—mobile is redefining and transforming the way we communicate and access information—cars, buildings, medical monitors, TVs, game consoles, consumer electronics and household appliances—even exercise equipment. It is all about seamless and intelligent connectivity between people, processes and products to be delivered when and wherever they are required.
By 2020, estimates place total worldwide wireless connections at around 24 billion counting devices such as exercise equipment.
The huge market opportunity offered by the connected life creates benefits for the mobile industry by enabling mobile operators to form partnerships with companies from other sectors to deliver compelling new services to consumers and businesses. The executive chairman of Ford Motor Company noted this in his Mobile World Congress keynote address. Not only does this create more opportunity for the entire industry supporting telecoms, but it will open up opportunities to increase efficiency and introduce smarter ways of working.
The GSMA estimates that the market for connected devices will be worth $4.5 trillion by 2020. By its estimates, the top 10 connected devices will account for 60 percent of the connected devices market by 2020.
Top Ten Connected Applications in 2020:
- Connected Car – $600 billion
- Clinical Remote Monitoring – $350 billion
- Assisted Living – $270 billion
- Home and Building Security – $250 billion
- Pay as you Drive Car Insurance – $245 billion
- New Business Models for Car Usage – $225 billion
- Smart Meters – $105 billion
- Traffic Management – $100 billion
- Electric Vehicle Charging – $75 billion
- Building Automation – $40 billion
Stay tuned to developments in this space as it certainly represents an interesting and incremental market opportunity for mobile operators and those vendors supporting them.